The following is a summary of the Laureate Education Inc. (LAUR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Laureate Education Inc. reported Q1 2024 revenue of $275 million and an adjusted EBITDA of $31 million.
The company revised its full year 2024 revenue guidance upward by $13 million and adjusted EBITDA by $5 million due to favorable foreign currency rates.
As of the end of March, the company had a net debt position of $102 million ($126 million in cash and $228 million in gross debt).
Business Progress:
The Q1 2024 enrollment met expectations and the company is on track to meet its operational outlook for the year.
Strategic restructuring initiatives are underway in Mexico to enhance margins.
Despite the economic downturn, the company expects economic recovery in Peru by the second half of 2024, citing growth potential due to the expanding middle class and rising rate of participation in higher education.
Innovations are planned in program extension, a digital product portfolio for working adults, and targeted campus expansions, with a particular focus on health sciences, STEM, and business courses.
The company plans to fully wind down legacy Laureate activities by the end of 2024.
More details: Laureate Education IR
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